Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Gold Industry Analysis

UpdatedJan 01, 2026
DataAggregated Company Financials
Companies154
  • 7D-1.5%
  • 3M12.5%
  • 1Y123.4%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 1.5%, driven by a pullback from Evolution Mining of 2.0%. Over the past 12 months, the industry was up 123%. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 01 Jan 2026AU$165.0bAU$26.4bAU$4.6b27.8x36.1x6.2x
Sat, 29 Nov 2025AU$153.2bAU$26.5bAU$4.6b25.2x33.5x5.8x
Mon, 27 Oct 2025AU$139.1bAU$26.4bAU$4.6b24.2x30.3x5.3x
Wed, 24 Sep 2025AU$138.4bAU$26.9bAU$4.8b19.6x28.7x5.2x
Fri, 22 Aug 2025AU$107.2bAU$22.9bAU$3.4b18.8x31.2x4.7x
Sun, 20 Jul 2025AU$98.7bAU$22.2bAU$3.1b17.2x31.8x4.4x
Tue, 17 Jun 2025AU$106.0bAU$22.3bAU$3.1b20.2x34.4x4.8x
Thu, 15 May 2025AU$94.6bAU$22.3bAU$3.1b19.5x30.6x4.2x
Sat, 12 Apr 2025AU$93.7bAU$22.2bAU$3.1b18.3x30.7x4.2x
Mon, 10 Mar 2025AU$78.3bAU$22.1bAU$3.0b18.7x26.4x3.5x
Wed, 05 Feb 2025AU$80.3bAU$18.7bAU$1.8b21.3x43.9x4.3x
Fri, 03 Jan 2025AU$69.5bAU$18.7bAU$1.8b21.7x37.6x3.7x
Sun, 01 Dec 2024AU$73.4bAU$18.6bAU$1.8b20.8x40.8x4x
Tue, 29 Oct 2024AU$78.1bAU$18.4bAU$1.8b24.4x43.4x4.2x
Thu, 26 Sep 2024AU$69.0bAU$18.1bAU$1.8b21x37.8x3.8x
Sat, 24 Aug 2024AU$65.0bAU$17.3bAU$1.2b23.8x52.4x3.7x
Mon, 22 Jul 2024AU$61.3bAU$16.0bAU$1.1b23.6x56.9x3.8x
Wed, 19 Jun 2024AU$55.5bAU$16.9bAU$1.2b18.7x46.9x3.3x
Fri, 17 May 2024AU$59.9bAU$17.1bAU$1.2b23x50.6x3.5x
Sun, 14 Apr 2024AU$60.6bAU$17.2bAU$1.2b23.4x50.5x3.5x
Tue, 12 Mar 2024AU$52.5bAU$16.6bAU$1.2b19.1x43.3x3.2x
Thu, 08 Feb 2024AU$49.2bAU$15.3bAU$278.8m23.1x176.4x3.2x
Sat, 06 Jan 2024AU$73.8bAU$22.9bAU$1.3b23.3x54.9x3.2x
Mon, 04 Dec 2023AU$75.0bAU$22.9bAU$1.3b24.3x55.6x3.3x
Wed, 01 Nov 2023AU$69.9bAU$23.0bAU$1.4b22.4x51.3x3x
Fri, 29 Sep 2023AU$65.1bAU$22.9bAU$1.3b19x52.1x2.8x
Sun, 27 Aug 2023AU$67.8bAU$22.6bAU$1.1b16.5x62.7x3x
Tue, 25 Jul 2023AU$70.6bAU$22.2bAU$534.9m17.9x132x3.2x
Thu, 22 Jun 2023AU$69.8bAU$22.2bAU$559.5m17x124.7x3.1x
Sat, 20 May 2023AU$72.2bAU$22.3bAU$580.2m18.7x124.5x3.2x
Mon, 17 Apr 2023AU$79.7bAU$22.3bAU$575.7m18.6x138.5x3.6x
Wed, 15 Mar 2023AU$64.7bAU$22.4bAU$637.3m17x101.6x2.9x
Fri, 10 Feb 2023AU$68.0bAU$20.7bAU$1.1b19.2x59.5x3.3x
Sun, 08 Jan 2023AU$66.5bAU$20.8bAU$1.2b19.9x57.2x3.2x
Price to Earnings Ratio

57.2x


Total Market Cap: AU$66.5bTotal Earnings: AU$1.2bTotal Revenue: AU$20.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 62.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 36.1x which is lower than its 3-year average PE of 62.7x.
  • The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 58% per year over the last three years.
  • Revenues for these companies have grown 8.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market-0.47%
Materials-0.65%
Metals and Mining-0.71%
Gold-1.54%
Silver13.60%
Copper1.85%
Aluminum-0.23%
Diversified Metals and Mining-0.31%
Steel-1.00%
Precious Metals and Minerals-4.54%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ALK Alkane ResourcesAU$1.353.5%
+AU$61.5m		153.8%PE96.1x
WWI West Wits MiningAU$0.07823.8%
+AU$57.5m		457.1%PS6648.6x
AQI Alicanto MineralsAU$0.1525.0%
+AU$27.8m		294.7%PS4512.9x
TM1 Terra MetalsAU$0.1427.3%
+AU$23.7m		438.5%PB14.8x
VAU Vault MineralsAU$5.460.4%
+AU$20.9m		154.5%PE24x

Latest News

WAF
AU$3.00
West African Resources
7D
-4.5%
1Y
104.8%
WWI
AU$0.078
West Wits Mining
7D
23.8%
1Y
457.1%
GHM
AU$0.76
Golden Horse Minerals
7D
-1.3%
1Y
214.6%
CMM
AU$14.38
Capricorn Metals
7D
-2.0%
1Y
129.0%

Calculating The Fair Value Of Capricorn Metals Ltd (ASX:CMM)

Dec 30
Calculating The Fair Value Of Capricorn Metals Ltd (ASX:CMM)
NST
AU$26.73
Northern Star Resources
7D
-1.0%
1Y
73.0%

Northern Star Resources (ASX:NST) Seems To Use Debt Quite Sensibly

Dec 29
Northern Star Resources (ASX:NST) Seems To Use Debt Quite Sensibly
EVN
AU$12.68
Evolution Mining
7D
-2.0%
1Y
162.0%

EVN: Premium Gold Price Assumptions Will Likely Expose Downside Risk

Analysts have raised their price target on Evolution Mining by A$2.00 to A$10.50, reflecting upgraded fair value assumptions driven by higher gold price expectations and improved forecasts for revenue growth and profit margins. Analyst Commentary The latest price target revision to A$10.50 from A$8.50 by JPMorgan underscores a constructive view on Evolution Mining, supported by a stronger gold price outlook and expectations for margin expansion.
VAU
AU$5.46
Vault Minerals
7D
0.4%
1Y
154.5%
RSG
AU$1.23
Resolute Mining
7D
-4.7%
1Y
202.5%

RSG: Gold Price Upside Will Support Margin Expansion And Cash Generation

Analysts have nudged their price target on Resolute Mining slightly lower to 64 GBp from 65 GBp, reflecting a modest recalibration of expectations while maintaining a constructive view on the company’s improving growth profile and margin outlook. Analyst Commentary Bullish analysts view the modest trim in the Resolute Mining price target as a fine tuning of valuation rather than a shift in conviction, noting that the stock still offers attractive upside from current levels given its improving operational and growth outlook.
RRL
AU$7.55
Regis Resources
7D
-2.3%
1Y
192.6%

RRL: Rising Gold Prices Will Support Stronger Future Free Cash Flow

Analysts have lifted their fair value estimate for Regis Resources from A$6.00 to about A$9.42 per share, as higher gold prices, stronger expected revenue growth and margins, and improving unhedged free cash flow support higher price targets across the sector. Analyst Commentary Recent Street research reflects a clear shift in sentiment toward Regis Resources, with price targets moving higher in response to stronger gold prices and improved free cash flow dynamics.
AQI
AU$0.15
Alicanto Minerals
7D
25.0%
1Y
294.7%
FML
AU$3.07
Focus Minerals
7D
-13.3%
1Y
1,705.9%
TM1
AU$0.14
Terra Metals
7D
27.3%
1Y
438.5%
GMD
AU$7.25
Genesis Minerals
7D
-2.8%
1Y
192.3%
ALK
AU$1.35
Alkane Resources
7D
3.5%
1Y
153.8%

We Believe That Alkane Resources' (ASX:ALK) Weak Earnings Are A Good Indicator Of Underlying Profitability

Nov 25
We Believe That Alkane Resources' (ASX:ALK) Weak Earnings Are A Good Indicator Of Underlying Profitability
TOK
AU$1.32
Tolu Minerals
7D
6.0%
1Y
56.2%
TTM
AU$0.88
Titan Minerals
7D
6.0%
1Y
131.6%